Leon Black is a billionaire private equity executive who co-founded Apollo Global Management in 1990 and built it into one of the world’s largest alternative asset management firms with over billion in assets.
Epstein Connection: Black paid Jeffrey Epstein approximately million between 2012 and 2017. When the payments became public in 2021, Black stated they were for tax and estate planning advisory services that he claimed saved him hundreds of millions of dollars. An Apollo-commissioned review by Dechert LLP concluded the services appeared legitimate.
Stepping Down: Black stepped down as Apollo CEO in March 2021 amid the controversy, though he retained his board seat and financial stake. Marc Rowan assumed the CEO role.
Separate Allegations: Black also faced separate accusations from Guzel Ganieva, who alleged a coercive sexual relationship with him. Black denied the allegations and filed defamation counterclaims against Ganieva. The litigation ran parallel to coverage of the Epstein payments.
Scale of Payment: The million total represents the largest documented financial payment from any named associate to Epstein, excluding the Wexner relationship. The scale prompted questions that were never fully resolved about whether the explanation was complete.